Any one of us that has bought a house or a car has some degree of familiarity with consumer credit scores. But what about business scores? While business credit scores are similar, there are differences, and you need to make sure you understand both.
In times like these, two initial responses are critical. The first of those is to take a breath. Take the time to educate yourself on the current situation, and then formulate a rational plan based upon that information. The second, communicate.
Her question was how does one effectively compare leases when the terms they use to describe them are different? This confusion is common, understandable, and largely centers around the fact that math is involved. Let me try to decipher terms, and explain the math.
Depending on how you look at it (or who’s doing the talking), a square foot can actually come in different varieties, and it’s important to understand them because they also represent different values when calculating per square foot costs in leasing and purchasing deals
Managers often base their fees on a percentage of the rent. This varies according to locale, but may fall between 6 and 12% of the rental income.
This likely stems from the fact that the commercial lease terminology is so different from that of the rest of real estate. As is often the case, the result is misconceptions and myths about certain terms, phrases, or practices.
Shoppers today have done extensive online research before ever visiting a store to make an important purchase. Between family, friends, video reviews and online comparisons, today’s consumer is perhaps more informed than ever.
285 South Stratford Road,
Winston-Salem, North Carolina 27103
Phone – 336.926.3530
NCREC Lic #: 278359
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